Syrah Resources' Balama graphite project keeps on delivering

Syrah Resources (ASX: SYR) has revealed more exceptional assay results from diamond drill holes from the Ativa Zone infill drilling programme at Balama West in Mozambique.

While it would be easy to be blase given the continuing very high grade results, including 67 metres grading 20.6% graphitic carbon content and 0.36% vanadium V2O5 from 94 metres, this would undermine the world class metrics of the Balama deposits.

The areas currently drilled by Syrah are Balama West and Balama East which have a combined resource of 1.15 billion tonnes at 10.2% TGC and 0.23% V2O5.

Balama is the largest and one of the highest grade flake graphite and vanadium projects globally.

The infill drilling was designed to upgrade the Inferred Resource into Indicated Resource status; the Ativa Zone is still open along strike and at depth.

Based on these current assay results it would appear highly probable this objective will be achieved. There is also remaining core to be assayed.

All 21 holes ended in mineralisation, best results also included:

– 65.0m at 22.3% TGC and 0.40% V2O5 from 28.0m to 93.0m– 58.0m at 18.3% TGC and 0.30% V2O5 from 4.0m to 62.0m– 54.1m at 18.4% TGC and 0.34% V2O5 from 47m to 101.1m

The results continue to show that the Ativa Zone, which has an Inferred Resource of 21 million tonnes at 20.8% TGC & 0.38% V2O5 (13% cut off grade) was intercepted where expected.

The Ativa Zone outcrops at surface over a distance of at least 1.3 kilometres.

The locations of all of the holes drilled to date are at Balama West.

Drilling at Balama West include the very high grade Ativa Zone, contained within a geological unit called XGS1 while XGS2 contains more moderate grades.

The two zones are known to connect based on field observations and mapping.